Indonesia suspends all exports of palm oil

The export ban comes as domestic consumers have faced soaring prices and shortages, leading to some being forced to queue for hours for the essential commodity

The export ban comes as domestic consumers have faced soaring prices and shortages, leading to some being forced to queue for hours for the essential commodity

Indonesia began imposing a complete ban on palm oil exports Thursday, as the world's largest producer of the commodity risked destabilising a global vegetable oil market already hitting peak prices.

Indonesia produces about 60 percent of the world's palm oil, with one-third consumed by its domestic market.